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HONG KONG DAILY PRESS. MONDAY, MAY 31, 1937.
Franco-German Economic
Relations
TRADE TREATY NEGOTIATIONS....
many would go on developing, for they were not merely the outcome of economic legle but of economie neccssity. Transocean News Service,
Paris, May, 29. Franco-German economic rela- tions in general, and the trade treaty negotiations between the two "countries now in progress, in particular, were subjects dealt with by the German Minister for Econo- mies. Dr. Hjalmar Schacht, in an
The lack of balance of power address before the German Char- ber of Commerce in Paris" yester-serious effect on Europe, and, es- In the economic field is having a
day.
11
One
most significant of the passages in Dr. Schacht's 'speech' was that in which 'he declared that in the trade relationship be- tween Cermany and France, the raw materials problem played an especially important part and was therefore one of the chief subjects of the present negotiations
Unfortunately, he said exchange of goods between France and Ger- many was hampered by all kinds
of obstacles.
For instanco there were the financial Dayments which Ger- many had to make to France, and which were bound to have the exect so unwelcome to France, of restricting considerably French ex- ports to Germany.
Dr. Schacht expressed the.com- viction that the neighbourly rela- tions between the two countries could be improved to a far greater degree if both sides would but take the trouble of adopting the right attitude towards the vital necessi- ties of the other.
IMPORTANT MATTERS
He said he had investigated the progress of the present negotia- tions and was gratined to and that in a very few weeks, agreement had been reached on many mat- ters of fundamental importance.
LUNCHEON PARTY
Parks. May 29.
LONDON GOLD PANIC
Rush To Buy Dollars
London, May 29. To-day witnessed another rush to sell gold and buy dollars, part- ly owing to the Continent taking fright at yesterday's fall in the price of gold to well below Ameri- can shipping parity and partly be- cause of fears that some statement on international currency, is well as the gold question. will be issued pecially on Franco-German rela-over the week-end.
The dollar strengthened from So declared the President of the 4.9396 to 4.9352 to the pound ster- Comite Franco - Allemagne, M.Ung while gold fell to 34: dis- Scapi at a luncheon given in
count compared with American honour of the Reich Economies parity, and, since the fixing of the Minister, Dr. Halmar Schacht, official price. further weakened. yesterday.
business being" done at a half- penny under the fixed rate.
tion."
M. Scapiri pointed out that 2 struggle was going on between groups striving for. Impertar self-valued at £1,175,000 in the mar- At the gold fxing, 419 bars were
Honal economic independence: sufficiency and those desiring na-ket. brokers who act" for the su
Declaring that developments in recent months had indicated the fragility of diplomatic structures unless they were based on sound
economic foundations, he advocat-
thorities taking up 385 bars and the rest being arbitrage for New York.
Informed
that
"Though the authorities were probably the biggest buyers, well- omcial brokers also had large
quarters believe
arbitrage baying orders.
A shipment of Russian gold, the United Kingdom on Thursday valued at £1,070,000, arrived in this week but this did not change
ed a thorough study of Franco- German trade relations, with the object of mutual Improvement.
The second" speaker, Count Fer- dinand de Brinor, Vice-President of the Comite, Franco-Allemagne, stressed the necessity sensational press reporting and day's selling, which was due declared that both the French and solely to Continental nervousness, German newspapers were deserv-all-to-day's offerings being dis-
boarded gold...- Ing of criticism in this respect,
for less
He proposed a toast to a "reign of truth" in Franco-German rela- tions.
Transocean News Servion
AGREEMENT IN PRINCIPLE","
Paris, May 29. This was all the more signi-
An agreement in principle on a Franco-German fcant in view of the fact that
commercial ac- Franco-German trade had been cord is believed to have been reached in the course of an inter- going on for two years without existence of any sort of agreement.
view between the Premier, M. Leon Concluding. Dr. Schacht remark-Blum, and Dr. Schacht, yesterday
evening.
ed that whatever the new Franco-
German trade treaty looked like, it The accord is most complicated, would not alone decide whether | Involving trade and exchange con- there, should be trade between theditions and loans agreement. two countries. Whether there were The new treaty is expected to be any treaty or not, economic rela- signed in two or three weeks time. tions between France and Ger- | -Reuter.
HOME CRICKET
Low Scoring
|:
London, May 28. Some marked. low scoring fea- tared the county cricket matches. which concluded to-day.
U.S. BASEBALL RESULTS
· Detroit Defeat St. Louis
New York, May 28. Pittsburgh maintained the
Derbyshire, the champions, beat Somerset after scoring but 87, leadership of the National League their first innings. Both
sides were dismlased
to-day, and gained a little on in- very cheaply. Somerset batted first and could active New York, when the Pirates only compile 92. Mitchell being blasted the St. Louis Cardinals responsible for the collapse by pitching for 14 hits and 10 runs. taking 6 for 34. However, Derby The Cards hit 11, but could only
make three tailles,
shire did even
worse and were
sent back for 87. Andrews captur ing" five wickets for 28 kuna.
The results in brief were as
follows:-
Essex (370 and 253/9 dec.) beat Kent (127 and 174) by 322 runs
Derbyshire (87 and 113/3) beat Somerset (92 and 104) by seven. wickets
Yorkshire (157 and 147) beat Gloucestershire (77 and 87, by 140
runs
Lancashire (239 and 172/4) beat Worcestershire (197) on first in-
ing i
Sussex (446/4) beat Leicester- shire (351) on first innings
Hampshire (328 and 245/5 dec.) heat Surrey (285 and 235) by
rurus
M.C.C. “Australian XI (376- and 173) bent The Rest (231 and 245) by 60 runs Reuter.
FRENCH TEXASCI
CHAMPIONSHIPS
Paris, May 28,
→
Chicago. The Cubs hit 14 times Cincinnati was swamped by safely, scored 12 runs. Kampouris hit a circuit drive for the Reds, but they netted only three runs on their eight connections.
No other games were scheduled. Chicago won a ten-inning game against Cleveland, three to two, in the American League, scoring on nine hits to eight. Trosky hit a humer for the White Scz,
St. Louis, was again nosed out, this time by Detroit, with a six to Ave decision in the opening game of a double-header. Tigers hit 11 to the Browns' 10. Greenberg gave the winners a bomer, In the 1second game the Tigers had it all their own way, scoring seven runs on 11 hits. St. Louis scored two, including a home run by Bell, with
York
10 hits: The
Philadelp game was postponed. 'Reuter.
BRITISH AMATEUR GOLF TITLE
Britain suffered two reverses. In the French tennis- championships
Sandwich, May 28. at Stade Roland Garros to-day,
Lionel Munn and R. Sweeney will "Pat" Hughes, better known as contest the final of the British a Davis Cup doubles player, was amateur golf championship here." beaten in he quarter-finals of the To-day. In the semi-final, Swee- singles-by Henkel of Germany, whoney beat C. Stowe by 6 and 5, and won 6-3, 6-4, 6-2,
Munn beat Count Bendern 4 and 3. Christian Boussus of France also In the quarter-final, Sweeney de- entered the semi-final at the ex-feated W. Wehrle of America by. pense of Cejnar, the Czech player, 3 and 2-Reuter winning 6-2, 6-2, 0-1, 53.
In the semi-finals, Bernard Des- | Madame, Mathieu (France) op- tremau masts. Henkel and Austin ( poses Mille. Jedrzejowska (Poland)" of "Britain ́plays Boussus, Austin | and Countess de Valdene plays the appears to have a fine chance of holder, Madame Sperling- winning the title for the first time. Reuter.
Miss Peggy Scriven, who has al- ways done well in the French In the semi-finals, Austin, de championships, was eliminated in feated Boussus 7-5, 6-2, 1-6, 6-3, the quarter-finals to-day losing to and Frau Sperling beat Miss Val- Countess de la Valdene of France dane 6-1 6-17 2-6, 6-1, 2-6. In the semi-fingis," "Reuters.
AUSTIN IN. FINAL
|
The market generally believes that any Russian gold arriving here will be taken up either" by the British or the American au- thorities without being offered on the market.
Reuter.
TAKE OFF COATS!
Berlin, May 29.
It is learned that Dr. Goebbels has issued instructions to all of- Ucials in his department to take off their coats and do two months' manual labour in factories, on the roads and farms, "to enable them better to appreciate the workmen's point of view."
Transocean News Service.
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